MBA Purchase Applications 399.8 [Link]
Econoday reports: The Mortgage Bankers refinancing index fell sharply to its lowest level in 18 months, down 16 percent in the week ended December 5 to 1775.5. The MBA said the drop, which hit despite declining 30-year mortgage rates that now average about 5.75 percent, may reflect homeowner preference for adjustable and hybrid mortgages that take advantage of low short-term rates. The MBA's purchase index also dropped sharply, down 9.5 percent to 399.8.
5-Year Treasury Notes 3.375%
Econoday reports: In sloppy results, the Treasury auctioned $16 billion of 5-year notes at an awarded yield of 3.375 percent, 5.5 basis points lower than last month's auction. The when-issued yield at the bidding deadline was 3.360 percent, a disappointment to buyers of the auction. The bid-to-cover also indicated softness, at 1.92 vs. 2.27 last month.
03.12.10 14:22 #